International Financial News

temporary foreign worker program is a breeding ground for contemporary forms of slavery alleged a report by UN investigator Tomoya Obokata, according to an article in Canada's leading daily Globe and Mail. Prof. Obokata is the United Nations’ special rapporteur on contemporary forms of slavery and a professor of international human-rights law at the University of York in Britain. The recently released final report cements Prof. Obokata’s initial impressions, which he first expressed last year after visiting Ottawa, Moncton, Montreal, Toronto and Vancouver on a fact-finding tour, Globe and Mail reported.

Sony Pictures Networks India (SPNI) has appointed three new leaders to oversee Hindi general entertainment and movie channels following the departure of Neeraj Vyas. Nachiket Pantvaidya, an industry veteran with a diverse career spanning multiple leading media companies, is now taking over as the Business Head of Sony Entertainment Television (SET), marking his third stint with SPNI. While he joins SET, he will also continue to manage his role as General Manager at Sony Pictures International Productions (SPIP).

Bangladesh crisis, including the protests in the country that led to the deaths of hundreds of people. Refuting all the reports and rumours, the White House Press Secretary, Karine Jean Pierre, said in a media briefing on Monday (local time), «So, we have had no involvement at all. Any, reports or rumours that the United States government was involved in these, in these events is simply, simply false. That is not true.» Jean Pierre further stated that Bangladeshi people should determine the future of the Bangladeshi government.

BEL), RailTel, Samvardhana Motherson International, and 13 other companies are expected to be in focus today as they have set August 14 as the record date for determining shareholders eligible for dividend payments. This means today is the last day to buy shares of these companies to qualify for the announced dividends.

₹5,200, a jump of 23% from a year earlier. Similarly, a Bengaluru-Kochi ticket now costs around ₹3,500, a 46% spike from a year ago. While air traffic slowed in July on account of monsoon, travel picked up in August.

Buy or sell stocks for today: Domestic benchmark equity indices Sensex and Nifty 50 ended Monday's session with little change, reflecting mixed global cues. Despite an earlier dip, both indices recovered by the afternoon, buoyed by positive trends in international markets and fresh inflows of foreign capital.

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

Bharti Enterprises plans to acquire a 24.5% stake in UK's BT Group for around $4 billion from the British firm's largest investor Altice UK, marking the Sunil Mittal-led company's second major international foray after venturing into Africa in 2010. This will make it the largest shareholder in BT, formerly British Telecom. In a statement Monday, Bharti said it has no intention of making an offer to buy control of Britain's largest broadband and mobile firm. Bharti is also not seeking a board seat, chairman Sunil Mittal told reporters. The purchase will be made by Bharti Global, which is the international arm of Bharti Enterprises, through Bharti Televentures. As per the terms of the deal, Bharti Televentures has acquired a 9.99% stake in BT Group's issued capital via open market trade. It will buy the remaining 14.51% after getting regulatory clearances. Mittal expects the deal to close in the coming months.

USA Gymnastics has submitted an appeal against the International Olympic Committee’s decision that gymnast Jordan Chiles must return her Paris Olympics bronze medal in floor exercise.

SpiceJet on Monday managed to avert a shutdown of its flights from Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai, resolving a tricky situation in the nick of time which could have affected several passengers. On Monday evening, CSMIA issued a passenger advisory stating that operations stating that effective midnight on 13 August 2024, SpiceJet flight operations from Mumbai International Airport are expected to be temporarily disrupted. “Mumbai International Airport is working with the airline to address the situation to minimise inconvenience to passengers,” the company said. However, within a few hours, the Adani-operated airport withdrew the advisory. In the meanwhile, the Ajay Singh-promoted SpiceJet issued a statement saying, «The passenger advisory issued by MIAL has been withdrawn. Our flight operations in and out of Mumbai are operating normally. SpiceJet and MIAL have worked collaboratively to swiftly resolve a minor financial matter.”

But India has made a strong comeback in Sri Lanka, wresting significant advantage from China. And going by the grammar and tone of S Jaishankar's just-concluded visit to Maldives, Muizzu, too, seems to be course-correcting. So, there's more than what meets the eye — a fresh dynamic that reflects changing geopolitical and economic realities. Take the Maldives. In May, IMF warned the country against a ballooning Chinese debt folio. A month later, Fitch downgraded its rating on grounds of 'increased risks associated with the country's worsening external financing and liquidity metrics'. It assessed that weakening foreign-reserve buffers and rising external government debt 'increase the challenges for the new government to meet its substantial upcoming external debt-servicing obligations and keep the currency peg to the US dollar'.

Krishnamurthy V Subramanian, Executive Director of the International Monetary Fund (IMF) said on Monday. In an interactive session during the launch of his book 'India @100' at Indian School of Business (ISB) here, Subramanian said becoming a USD 55 trillion economy by 2074 may appear audacious, but it is achievable. He also said India's private credit to GDP ratio was 58 per cent in 2020, six decades behind the advanced economies which are now at 200 per cent, though there is phenomenal work being done in terms of financial inclusion through schemes like 'Pradhan Mantri Jan-Dhan Yojana'. «So in other words...while this of course appears to be audacious, it is the power of compounding that makes it happen. As long as we are able to register 8% growth, we can actually become a $55 trillion economy,» the former chief economic advisor said when asked why he thinks India has the potential to be a USD 55 trillion economy by 2047.

Bengaluru recently took to social media to highlight the plight of international travelers from India when their tickets are arbitrarily canceled by airlines. According to the woman, she had recently booked a Delhi-San Francisco flight, but Air India canceled it without notice and offered passengers the option to fly on a different date. When passengers objected, they were offered seats on an alternate flight with a 10-hour layover. The woman claimed that Air India refused to provide the passengers with tickets for a flight departing directly from Bengaluru.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

Himanta Biswa Sarma said that police prevented four Bangladeshi nationals from entering India illegally through Karimganj district. Sarma stated on X, “This morning at 1:30 AM, Bangladeshi citizens identified as Motiur Seikh, Mushiar Mullah, Tania Mullah, and Rita Mullah attempted to enter India through the Karimganj sector of the India-Bangladesh border. However, police effectively intervened at the zero point and promptly repelled them, preventing their unauthorized entry.” He told media persons these people were Rohingyas and it is not related to the ongoing crisis in Bangladesh.

RBI) has prohibited housing finance companies (HFC) from raising public deposits for more than five years, placed a ceiling on the quantum of deposits they can raise, and asked them to increase the share of liquid assets to 15% from 13% now in a phased manner. RBI on Monday said that public deposits accepting HFC can renew deposits after 12 months or more but not later than sixty months. It has allowed existing deposits with maturities above sixty months shall be repaid as per their existing repayment profile. Separately, RBI has directed non-bank finance companies to put in place a mechanism to provide nomination facility for depositors irrespective of customers demanding the service.

the personal rebuttals from its chairperson, Madhabi Puri-Buch, and her spouse, Dhaval Buch, have sparked a political firestorm. The Opposition has linked the controversy to Parliament's abrupt adjournment on Friday, despite agendas being issued for Monday. Sebi claims Puri-Buch fulfilled all internal disclosure requirements and recused herself where necessary.

Sunil Mittal on Monday said the conglomerate's decision to acquire a 24.5 per cent stake in BT Group marks a «good, long-term investment» and an «attractive buy», citing the British company's strong portfolio of home broadband, fibre, mobile and enterprise offerings. Mittal, a telecom industry stalwart, exuded confidence about the investment and business prospects of BT and indicated that while the priority, for now, is to understand the company and the UK market in-depth, «if there are more opportunities in Europe, we will certainly be open to it in future». On Bharti's decision to buy a 24.5 per cent stake in BT Group — a move that would make it the single largest shareholder in Britain's largest broadband and mobile company — Mittal said: «I think this is a very attractive buy… the UK and European telecom companies are trading at low multiples...so given the cash flow expectations of BT, we believe this is going to be a good investment, and it is a long-term investment.

Mahindra & Mahindra is set to launch its new 5-door Thar model, the Thar Roxx, on India's Independence Day in 2024. Recently released images showcase the vehicle's updated design, including an upgraded grille, redesigned lights, and newly styled windmill-inspired alloy wheels.